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Kuhndan

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Posts posted by Kuhndan

    Biglari buys Maxim

    in General Discussion

    Posted

    Many things funny about this, he might want to learn his new boss's name, its not Bilgari. Also love how they call Biglari a billionaire. Great reporting there.

     

    <<“It’s like 12 ways to decorate your dorm room. I want to do something for a more mature audience,” O’Brien said, before turning to how he met Bilgari, the Persian billionaire  who purchased the men’s glossy for about $12 million.>>

     

    Here he goes again with the wrong name. Sidar?!! These two are off to a great start.

     

    <<“Some friends of mine brought up my name to Sidar,” O’Brien said nonchalantly. “We saw eye to eye on things. We wanted to do really great fashion and get the best writers, photographers and illustrators. I see a gap in the men’s market.”>>

     

     

    Outstanding Investor Digest

    in General Discussion

    Posted

    I had a chance to sign into the OID website and read the editor's note. This guy is too funny, he always acknowledges the fact that he hasn't produced anything in ages but makes it sounds like he will be a ball of fire going forward. I bet we see one issue and then another two year sabbatical.

    For those of you who subscribe to The Wall Street Journal

    in General Discussion

    Posted

    My Wall Street Journal came up for renewal. They called and pushed to renew for $910 for two years. I said that seemed like a lot compared to my renewal last year. They then said they would renew it for one year at $505. I said that seem even worse. I shared with her that my administrative assistant had just renewed a co-workers subscription in March for $365. She somehow tried to justify the difference in that my co-worker was on an "incentive rate" and since I had been a 20 year subscriber I didn't qualify for an incentive. After much back and forth, I told her to cancel my subscription....to which she responded she would renew it for one year at $325. What a business model. 

    Biglari Holdings

    in General Discussion

    Posted

    It not as much as you might think. The fees that would have been charged Biglari, affiliates and directors are not disclosed in the proxy. At the same time, it would be fairly easy to estimate. Biglari only has $2.6 million in The Lion Fund. My guess is that he would have to pay an annual management, say 1% on total assets as well as the standard incentive comp. Steak n Shake has $50MM in The Lion Fund. Since this is a consolidated entity it wouldn't make any sense charging them.

    Accounting Question

    in General Discussion

    Posted

    So Biglari now owns 19.99% of Cracker Barrel. If he owns 20% he can start reporting his % share of earnings through the income statement. He can't buy 20% because of the poison pill in place. Any accountants out there that know if he can round up his current % to 20% without tripping the poison pill? Or would he have to have the 20%?

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